Okta Shares Surge on Strong Earnings, Growing Demand for AI Identity Security
The identity security company beat quarterly expectations and raised its outlook as enterprises face growing pressure to secure AI agents and other non-human identities. The post Okta Shares Surge on Strong Earnings, Growing Demand for AI Identity Security appeared first on SecurityWeek.
Shares of Okta (NASDAQ: OKTA) are surging after reporting stronger-than-expected second-quarter financial results and raised its outlook for the full fiscal year, with artificial intelligence (AI) emerging as an increasingly important source of demand.
Shares of the of identity security company jumped more than 19% in extended trading Wednesday, climbing above $160 after closing the regular session at $134.42.
For its fiscal second quarter, ended July 31, Okta reported revenue of $805 million, an increase of 11% from the same period a year earlier. Subscription revenue rose 12% to $793 million.
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